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Stratasys (SSYS)
NASDAQ:SSYS
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Stratasys
(NASDAQ:SSYS)
47Neutral
Positive Factors
Balance Sheet
SSYS has a strong, and soon-to-be stronger balance sheet following the closing of the PIPE investment by Fortissimo Capital.
Financial Performance
SSYS delivered better-than-expected Q3 results and provided a solid Q4 guide.
Negative Factors
Market Conditions
Stratasys continues to face a weak capex environment, with organic sales down about 8% year-over-year in 2024.
Revenue
SSYS provided 2025 revenue guidance that at midpoint was slightly below consensus, with revenues expected to be flat to up 2%, as market conditions remain challenging.
Stratasys (SSYS) vs. S&P 500 (SPY)
Market Cap
$653.94M
Dividend YieldN/A
Average Volume (3M)529.31K
Price to Earnings (P/E)―
Beta (1Y)1.37
Revenue Growth-8.79%
EPS Growth5.32%
CountryUS
Employees1,779
SectorTechnology
Sector Strength40
IndustryComputer Hardware
Share Statistics
EPS (TTM)-1.70
Shares Outstanding71,782,510
10 Day Avg. Volume526,502
30 Day Avg. Volume529,308
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)1.28
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$13.33Price Target Upside46.32% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
Stratasys Business Overview & Revenue Model
Company DescriptionStratasys Ltd. provides connected polymer-based 3D printing solutions. It offers 3D printing systems, such as polyjet printers, FDM printers, stereolithography printing systems, and programmable photo polymerization printers for rapid prototyping, such as design validation, visualization, and communication. The company also provides 3D printing materials, including approximately FDM spool-based filament materials, polyjet cartridge-based resin materials, non-color digital materials, and color variations for use in 3D printers and production systems. In addition, it offers GrabCAD Additive Manufacturing Platform, an open and enterprise-ready software that enables manufacturers to manage production-scale additive manufacturing operations; GrabCAD Shop, which simplifies the 3D printing shop workflow; GrabCAD software development kit that provides application programming interfaces, documentation, sample code, and professional support network; and GrabCAD Workbench, a cloud-based project data management solution. Further, the company operates Thingiverse.com, an online community for sharing downloadable and digital 3D designs; and GrabCAD Community for mechanical engineers, designers, manufacturers, and students, as well as offers on-site system installation, operator training, maintenance and repair, and remote technical support services. Its products and services are primarily used in the aerospace, automotive, transportation, healthcare, consumer products, dental, medical, and educational industries. The company sells its products through a network of resellers and independent sales agents worldwide. Stratasys Ltd. was incorporated in 1989 and is headquartered in Eden Prairie, Minnesota.
How the Company Makes MoneyStratasys generates revenue through the sale of its 3D printing systems and related consumables, such as proprietary printing materials. The company also offers software solutions that enhance the functionality and efficiency of its printers. In addition to product sales, Stratasys provides maintenance and support services, which constitute a significant portion of its recurring revenue. Strategic partnerships with industry leaders and collaborations in research and development further contribute to its revenue streams by expanding its market reach and driving innovation in additive manufacturing technologies.
Stratasys Financial Statement Overview
Summary
Stratasys faces significant challenges in achieving profitability, with negative net income and EBIT margins. The balance sheet remains strong with low leverage, but ongoing cash flow issues highlight potential liquidity risks. The company needs to focus on improving operational efficiency and strategic investments to enhance financial performance.Income Statement
Stratasys has experienced volatility in revenue and profitability. The most recent year shows a decline in revenue and gross profit margin compared to previous years. Net income remains negative, indicating ongoing challenges in achieving profitability. EBIT and EBITDA margins are also negative, reflecting operational inefficiencies.45
Neutral
Balance Sheet
The balance sheet shows a strong equity position with a relatively low debt level, as evidenced by a modest debt-to-equity ratio. However, the return on equity is negative due to persistent net losses. The equity ratio is stable, providing a solid buffer against liabilities.55
Neutral
Cash Flow
Cash flow analysis reveals struggles in generating consistent positive operating cash flow, with negative free cash flow indicating potential liquidity issues. Recent improvements in operating cash flow are notable, but free cash flow remains a concern due to high capital expenditures.40
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 572.46M | 627.60M | 651.48M | 607.22M | 520.82M | Gross Profit |
| 256.82M | 267.02M | 276.47M | 260.08M | 219.39M | EBIT |
| -85.66M | -87.58M | -57.16M | -79.16M | 266.75M | EBITDA |
| -40.32M | -35.61M | 2.61M | -23.07M | -20.28M | Net Income Common Stockholders |
| -120.28M | -123.07M | -23.25M | -62.93M | -440.18M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 150.70M | 162.59M | 327.84M | 502.18M | 299.09M | Total Assets |
| 1.03B | 1.13B | 1.26B | 1.28B | 990.00M | Total Debt |
| 32.09M | 18.66M | 17.84M | 14.97M | 21.85M | Net Debt |
| -38.11M | -63.92M | -132.63M | -228.21M | -250.24M | Total Liabilities |
| 236.75M | 249.07M | 300.36M | 321.21M | 230.63M | Stockholders Equity |
| 792.99M | 884.84M | 959.43M | 956.01M | 759.37M |
| Cash Flow | Free Cash Flow | |||
| -4.89M | -76.67M | -95.16M | 9.07M | -1.21M | Operating Cash Flow |
| 7.83M | -61.65M | -75.41M | 35.82M | 27.80M | Investing Cash Flow |
| -14.82M | -3.83M | -7.21M | -291.17M | -52.63M | Financing Cash Flow |
| -3.31M | -1.52M | -2.77M | 227.31M | 228.00K |
Stratasys Technical Analysis
Negative
9.11
Price Trends
10.52
Negative
9.99
Negative
8.89
Positive
Market Momentum
-0.12
Negative
40.86
Neutral
36.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SSYS, the sentiment is Negative. The current price of 9.11 is below the 20-day moving average (MA) of 9.85, below the 50-day MA of 10.52, and above the 200-day MA of 8.89, indicating a neutral trend. The MACD of -0.12 indicates Negative momentum. The RSI at 40.86 is Neutral, neither overbought nor oversold. The STOCH value of 36.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SSYS.
Stratasys Risk Analysis
Stratasys disclosed 52 risk factors in its most recent earnings report. Stratasys reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Stratasys Peers Comparison
Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $245.72M | 16.95 | 5.60% | ― | 4.24% | 100.00% | |
62 Neutral | $774.33M | 365.29 | 3.87% | ― | 29.74% | ― | |
59 Neutral | $311.32M | ― | -9.36% | ― | ― | ― | |
57 Neutral | $20.31B | 10.03 | -14.49% | 2.79% | 5.15% | -23.76% | |
57 Neutral | $677.11M | ― | -6.09% | ― | ― | ― | |
47 Neutral | $653.94M | ― | -14.34% | ― | -8.79% | 5.32% | |
37 Underperform | $281.93M | ― | -84.78% | ― | -9.82% | 30.63% |
* Technology Sector Average
Performance Comparison
SSYS
Stratasys
9.11
-1.33
-12.74%
DDD
3D Systems
2.08
-1.84
-46.94%
MTLS
Materialise
4.40
-0.72
-14.06%
NNDM
Nano Dimension
1.41
-1.29
-47.78%
CGNT
Cognyte Software
9.41
2.39
34.05%
DSP
Viant Technology
14.16
4.66
49.05%
Stratasys Earnings Call Summary
Earnings Call Date: Mar 5, 2025 | % Change Since: -14.14% | Next Earnings Date: May 14, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted Stratasys' strong operational efficiencies, improved gross margin, and strategic partnerships, indicating resilience despite macroeconomic challenges. However, overall revenue and product/service revenue declines reflect ongoing market pressures. The balance of achievements and challenges suggests cautious optimism moving forward.Highlights
Improvement in Gross Margin
Adjusted gross margin expanded by 100 basis points to 49.2% for the year, reflecting continued focus on cost controls and operating efficiencies.
Strong Balance Sheet
Maintained a healthy balance sheet with $150.7 million in cash and equivalents and no debt, providing stability and options for growth.
Notable Customer Wins and Partnerships
Secured partnerships with major companies like ArcelorMittal and NASCAR, showcasing the versatility and effectiveness of Stratasys solutions in traditional manufacturing and automotive sectors.
Expansion in Material and Product Offerings
Launched new materials and products, including the Fortus FDC filament dryer, Polycarbonate ESD for electronics manufacturing, and expanded capabilities for Ultem 9085 material.
Growth in Manufacturing Revenue
Generated 36% of revenues from manufacturing, up from 34% in 2023 and over 25% in 2020, with expectations for continued growth in this segment.
Lowlights
Overall Revenue Decline
Consolidated revenue of $150.4 million for Q4 was down 3.8% compared to the same period last year. Full-year 2024 revenue declined 8.8% to $572.5 million from $627.6 million in 2023.
Decline in Product and Service Revenue
Product revenue fell by 4.8% to $105.1 million in Q4 compared to the same period last year. Service revenue for the full-year 2024 was $180.5 million, down from $193.9 million in 2023.
Impact of Macro Headwinds
Faced industry-wide challenges due to macroeconomic headwinds, resulting in constrained capital budgets impacting customer buying behaviors for new systems.
Non-cash Impairment Charge
GAAP net loss for the quarter was significantly impacted by a non-cash impairment charge of $30.1 million related to investment in Ultimaker.
Company Guidance
During the Stratasys Q4 2024 earnings call, the company provided guidance for 2025, expecting revenue to range from $570 million to $585 million, with sequential growth each quarter. They anticipate non-GAAP gross margins between 48.8% and 49.2%, and non-GAAP operating expenses between $254 million to $257 million. Stratasys forecasts non-GAAP operating margins of 4% to 5% and adjusted EBITDA of $44 million to $50 million, equating to 7.8% to 8.5% of revenue. The company's financial strength is supported by a healthy balance sheet with $150.7 million in cash and equivalents and no debt, alongside an expected $120 million investment from Fortissimo Capital. Stratasys also plans capital expenditures of $25 million to $30 million for 2025, with an improved operating and free cash flow outlook compared to 2024.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.